ERCOT Ancillary Services Swaps

    The terms and conditions of the swaps incorporate by reference such credit and other terms as the parties may establish through their pre-existing bilateral agreement. The swaps have the following characteristics:

    Contract Overview: An agreement to exchange cash flows based on the difference between a fixed price agreed to by the parties and a floating rate based on an ancillary service over a specified term to maturity.
    Ancillary Services
    ERCOT Regulation Down Service
    ERCOT Regulation Up Service
    ERCOT Responsive Reserve Service
    ERCOT Non-Spinning Reserve Service
    Trade Date: As determined by the parties.
    Effective Date: The date on which the parties begin calculating their accrued obligations under the swap.
    Termination Date: As determined by the parties.
    Buyer: Party [A/B]
    Seller: Party [B/A]
    Fixed Price: As determined by the parties.
    Floating Price: As determined by ERCOT
    Determination Period: Effective Date through Termination Date.
    Payment Date: As determined by the parties.